A dwindling supply of creative office space in the Central Loop since 2011 made One North LaSalle a premium investment opportunity.

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The once-stodgy building, originally built in 1929, has undergone more than $35 million in capital improvements over the last decade.

CHICAGO—Bridge Investment Group just acquired One North LaSalle, a 47-story, 493,738-square-foot vintage office tower located in downtown Chicago. The purchase closely follows the Atlanta-based firm’s acquisition of O’Hare International Center, a pair of nine-story class A office towers in suburban Rosemont, and company officials say they want to be major players in the region’s office market.

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.